WASHINGTON (AP) — It soon could cost 49 cents to mail a letter.

The postal Board of Governors said Wednesday it wants to raise the price of a first-class stamp by 3 cents, citing the agency’s “precarious financial condition” and the uncertain prospects for postal overhaul legislation in Congress.

Recommended Stories

U.S. Postal Service has cut 25,000 jobs this year

From Benjamin Franklin to Pony Express to anthrax: How the US Postal Service shaped a nation

Postal Service proposes fifth price increase to Forever Stamps in two years